Question

What is production Possibility Curve..??​

Answer 1

A production possibility curve measures the maximum output of two goods using a fixed amount of input. The input is any combination of the four factors of production: natural resources (including land), labor, capital goods, and entrepreneurship. The manufacturing of most goods requires a mix of all four. Each point on the curve shows how much of each good will be produced when resources shift from making more of one good and less of the other.